commerce essay

The Teacher Employment Agency Commerce Essay

Published: 23, March 2015

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Teacher employment agency happy teacherschooljob.com is a new job search website that is designed to provide teachers with part-time or seasonal employment, supplementing their current income during their holiday break, retirement and also weekend income. The site will be effective in matching educated, mature, creative, responsible educators with employers in need of seasonal, part time or long term holiday assistant. While the revenue will come from the employer listing fees, happyteacherschooljob.com will have two general customers, the employers as well as the employees in search of the jobs.

Company Ownership (write partnership definition)

Happyteacherschooljob.com will be incorporated in partnership business model. A partnership is a business firm formed by two to twenty partners in maximum (source: ACRA SINGAPORE). The shareholders will be Colin and Jess. Colin and Jess will both be the principle owners and operators. Due to the initial start of and also the understanding for the operation of company management and understanding customers and to reduce overall costs, we feel that the optimal structure of the company would be both of the owners shall work full time for Happyteacherschooljob.com during the first three years until the revenue can sustain a full time staff. Both owners shall continue monitor and guide in terms as consultant for the company even when the revenue is able to sustain a full time staff for long. As of this writing, the company has not been incorporated.

The Market

It is well known that educators are very dedicated professionals who work at below market wages or rather long working hours. As the salary issue, we understand Singapore teachers are paid fairly however with long working hours compare to daily 8 hours of working schedule. Â According to The Professional Lives of Teachers journal Teachers work very hard at the Singapore Girls' Chinese School (SGCS), normally arriving by around 7:00 AM and going home at around 5:00 PM, sometimes a little later, sometimes a little earlier, depending on what's going on at the school. Based on this, it is around 10 hours of working hours daily. The school day for students begins at 7:20 AM and ends at 1:40 PM for primary students and 4:00 PM or so for secondary students, although this varies according to the needs and activities of each student. Sports and club activities as well as tutoring and remedial help are provided after school. Sat maybe included as the student Sports and club activities which taken extra working hours and days for teachers which the working days for teachers would be Monday to Friday. In the journal it shows Singaporean teachers, are started to struggle with the same things that happened in the U.S. education system such as unruly students, difficult parents, trying to make ends meet, and the challenges of being on top of your game even when you are under stress plus the competition between each school of getting to be the top or highest scorer. With all this in mind, there are a high percentage of teachers that are looking for supplemental income with a better or fairer working hours with the fair supplemental income given, indicating a bountiful market. As mentioned previously happyteacherschooljob.com will be receiving revenue from the employer listing fees.

Competitive Edge

Happyteacherschooljob.com has a unique pool of prospective employees. A quote by "Bill Jackson" How do you transform an education that is good at exam successÂ and learning mastery into something that is flexible and creative without losing rigor?" Â In 1997, Singapore began an initiative called "Thinking schools learning nation," which emphasizes more creativity, innovation, and critical thinking in classrooms.(source: travel journal). From this, not only dedicated, experienced, passion is needed in an employee but creativity of teaching manners is much needed for 20th century. All of the employees of Happyteacherschooljob.com are professional educators who have skill sets centered on education, professionalism, and the passion and dedication and most importantly creativity in teaching of which most employers is searching for in employees. Having a strong pool of prospective employees will make it much easier to attract employers who want to post their jobs in Happyteacherschooljob.com.

Company Objectives

The main objectives for the company are as follows:

Attract a minimum of 100 employers subscribing for a year of job listings.

Attract related links to provide educators with additional reasons to access the site.

Use the increased traffic to attract additional employers to finance expansion of the Web page offerings.

Mission (mix with company objective)

Happyteacherschooljob.com seeks to provide a concise and reliable site for employers and teachers to fulfill mutual needs by doing a test for individual educator engaged to Happyteacherschooljob.com. Employers are seeking reliable employees to fill a specific need for part-time and seasonal employees. Teachers, being traditionally underpaid due to long working hours professionals require supplemental income with fair working hours in order to continue their chosen profession. The company seeks to provide a much needed resource to maintain quality educators, while at the same time increasing the profitability of retailers and service providers by reducing their turnover rates.

Management

Happyteacherschooljob.com will be developed and run by the owner which is Jess and Colin.

Colin- Bachelor degree in Hospitality and Tourism Management (Queens Margaret University). He has experience in supermarket business and general management experience in China. He also brings a valuable perspective for the marketing sector, from his previous company experience

Jess - Bachelor degree in Hospitality and Tourism Management (Queens Margaret University). She has experience in teaching industry in Malaysia and Singapore for 10 years.

Colin will be handling the financing and accounting, licensing and the marketing part for Happyteacherschooljob.com

Jess will be handling the coordinating part for employees and employers, searching for suitable candidates, and also marketing for Happyteacherschooljob.com.

Colin and Jess are both passionate in education line, recognized the huge potential of an online job board that provides part time and seasonal opportunities for educators and also employers who is looking for reliable and committed educators.

Management Summary

The initial owners will be the operators and managers due to costing. We will receive extensive technical and webmaster assistance from our friends, as well as support and input from our other family members and also friends who has experience in the same industry or even business managing industry. The company hired to perform Web hosting duties will also provide technical support. The number of patents to research will increase to the point that part-time help is needed to allow management face time with the client. As the business expands, additional sales and marketing personnel will be added.

As for the personel accounting please refer to appendix page ?

Services

Happyteacherschooljob.com provides a unique site to match the part-time and seasonal job needs of teachers with employers searching for professional, reliable, and educated employees, thereby reducing turnover and its associated costs.

Market Analysis Summary

Marketing is about needs and wants from a customer of which it may be said as 'satisfying customer needs'. According to American Marketing Association, Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Happyteacherschooljob.com will focus on educational institutions to provide the pool of potential employees. Schools employing teachers, as well as educational institutions training teachers, will be prime marketing targets. Given the fact that educational institutions are faced with the challenge of maintaining a quality faculty within limited salary constraints, it is extremely advantageous for them to provide a quality opportunity for teachers to supplement their income with the correct working hours.

Our focus group to provide the income for the company will be employers who seek part-time and seasonal employees. In our current economy, nearly all employers have the need for these positions. The costs of continually hiring these employees for each need is significant. Our company will provide a unique pool of educated, stable, and professional employees. Private tuition and day care centers are just a few of the employers who require employees with the professional background, most importantly, the work schedule of teachers. The joining of these two groups provides significant benefits and savings to both groups.

4.1 Market Segmentation

Our target market is broken down into the following categories:

The pool of employees are formed by teachers from schools of all levels.

Major private education service providers will provide additional qualified employees.

The pool of employees will be matched to other educational institutions to resolve their problems of having consistent supply of qualified teachers.

(2) There are more than 200 kindergartens registered with the Ministry of Education. Kindergarten programmers are also offered by child care centers as well as international schools.(R: http://www.dwg.com.sg/2011/edu.html)

Strategy and Implementation Summary

Happyteacherschooljob.com will initially focus on the local market. Targeting school districts also begins in the local market. Based on the research above, there is more than 230 tutorial centers, 200 kindergartens school and etc. and there be more private education centre such as special needs, day care, kinder garden and etc will be open in coming years. There is a report from channelnewsasia saying "Since the transformation of the school from the Singapore Autism School in 2008, the school has been receiving more than 100 applications annually. It is understood that about 50% of those applicants are on the waiting list. SINGAPORE: Singapore needs more skilled teachers to work with special needs children and youth "(Source: Channelnewsasia). It shows that local market has a huge potential market in terms or service provider or retailer there be a need but after it is more settled and have sufficient client, Happyteacherschooljob.com will lends itself to quick national expansion.

4.2 Target Market Segment Strategy

Focusing on these groups places the two pieces of the puzzle squarely in-line with one another. There are a number of job search sites out there. Many of these are too extensive for the needs of our focus group; our specific marketing targets fit the profile and purpose ultimately sought by our company and the employees and employers themselves. Our marketing will be focused on a concise brochure, detailing the advantages and strategy of our company and will be delivered (as much as possible) by personal contact and interview. This approach will stress both the professional and personal nature of the company.

4.3 Service Business Analysis

The significant number of job search companies forces us to focus on the unique and specialized groups we are seeking to join. Fortunately, the purpose and focus of the company is exactly the service we seek to provide.

4.3.1 Competition and Buying Patterns

The most important factor for the employer will be the reduction in advertising costs by reducing the turnover, therefore increasing the reliability and professionalism of its workforce. By providing the pool of employees we intend to target, the cost of our services will be relatively inexpensive for employers.

Passing the cost to the employers allows us to provide a cost-free service to the pool of employees, thus increasing traffic on the site.

5.1 Competitive Edge

Our unique pool of employees gives us a significant advantage over the larger job search firms concentrating on different careers. Our links and appeal to teachers also gives us the ability to market related links for increased traffic. Concentrating on the professionalism, education, and dedication of teachers is essential in distinguishing our pool of employees from the general population, thus increasing the hiring appeal for our employers.

5.3 Sales Strategy

Our sales will depend on the repeat business derived from providing quality permanent, part-time, and seasonal employees. Our sales must be focused on annual contracts paid in advance which allows the company to plan ahead and also holding on to the customer. We will offer plans based on a monthly charge for job listings, for instance we have four products. A fee of $25/mo will be charge for up to 10 job listings, $40/mo for 11-20 listings, $55/mo for 21-50 listings, and $80/mo for unlimited listings. All of the sales will be attempted in person with the employer which shows interest in and closed and paid on an annual basis instead of monthly. Follow-up of the success of the listings and contacts should be made in every two months of which could made a close relationship with the clients too.

2.2 Start-up Summary (financial plan) refer to appendix

Our start-up costs are primarily Web page design, programming, and hosting charges. The start-up costs will be provided by direct owner investment. The details and assumptions are shown in the following chart and tables.

Start-up Requirements

Company Registration

$315.00

Shop License

$300.00

Stationery etc.

$80.00

Name Cards

$70.00

Brochure

$548.00

Log Design

$300.00

Web Design

$3,000.00

Insurance

$100.00

Domain Name Registration

$48.00

Web Hosting

$300.00

Other

$0.00

Total Start-up Expenses

$5,061.00

Cash Required

$0.00

Other Current Assets

$0.00

Long-term Assets

$0.00

Total Assets

$0.00

Total Requirements

$5,061.00

Start-up Funding

Start-up expenses to fund

$5,061.00

Start-up Assets to Fund

$0.00

Total Funding Required

$5,061.00

Assets

ã€€

Non-cash Assets from Start-up

$0.00

Cash Requirements from Start-up

$0.00

Additional Cash Raised

$0.00

ã€€

ã€€

Total Assets

$0.00

Liabilities and Capital

$0.00

Liabilities

$0.00

Current Borrowing

$0.00

Long-term Liabilities

$0.00

Accounts Payable (Outstanding Bills)

$0.00

Other Current Liabilities (Interest-Free)

$0.00

Total Liabilities

$0.00

Capital

ã€€

Planned Investment

ã€€

Investor 1 (Colin)

$2,530.50

Investor 2 (Jess)

$2,530.50

Other

$0.00

Additional Investment Requirement

$0.00

Total Planned Investment

$5,061.00

Loss at Start-up (Start-up Expenses)

$5,061.00

5.3.1 Sales Forecast

The following chart and table show our forecasted sales for Happyteacherschooljob.com. We would hope to obtain at least 70 employers at the $25/month level, 70 employers at the $40/month level, 40 employers at the $55/month level, and 40 employers at the $80/month level in the first year. We expect the number of employers to increase at the rate of 20-25% each year, with the growth of the higher-priced subscribers to increase by the end of year two with the national appeal of the local national employers. Costs should then be reduced by the end of year two with the purchase of our own server to allow captive hosting of our own website.

Sales Forecast

ã€€

Year 1

Year 2

Year 3

Unit Sales

ã€€

ã€€

ã€€

Up to 10 Job Listings

70

85

100

11-20 Job Listings

70

85

100

21-50 Job Listings

40

50

63

51-unlimited Job Listings

40

50

63

Total Unit Sales

220

270

326

Unit Prices

Year 1

Year 2

Year 3

Up to 10 Job Listings

$25.00/Month

$35.00/Month

$45.00/Month

10-20 Job Listings

$40.00/Month

$50.00/Month

$60.00/Month

21-50 Job Listings

$55.00/Month

$65.00/Month

$75.00/Month

51-unlimited Job Listings

$80.00/Month

$90.00/Month

$100.00/Month

Sales

ã€€

ã€€

ã€€

Up to 10 Job Listings

$21,000.00

$35,700.00

$54,000.00

10-20 Job Listings

$33,600.00

$51,000.00

$72,000.00

21-50 Job Listings

$26,400.00

$39,000.00

$56,700.00

51-unlimited Job Listings

$38,400.00

$54,000.00

$75,600.00

Total Sales

$119,400.00

$179,700.00

$258,300.00

Direct Unit Costs

Year 1

Year 2

Year 3

Up to 10 Job Listings

$6.00

$9.00

$12.00

10-20 Job Listings

$10.50

$13.50

$16.50

21-50 Job Listings

$20.00

$18.00

$28.00

51-unlimited Job Listings

$30.00

$34.00

$38.00

Direct Cost of Sales

ã€€

ã€€

ã€€

Up to 10 Job Listings

$420.00

$765.00

$1,200.00

10-20 Job Listings

$735.00

$1,147.50

$1,650.00

21-50 Job Listings

$800.00

$900.00

$1,764.00

51-unlimited Job Listings

$1,200.00

$1,700.00

$2,394.00

Subtotal Direct Cost of Sales

$3,155.00

$4,512.5.00

$7,008.00

6.1 Personnel Plan

The attached table summarizes our personnel expenditures for the first three years. Since the company is a closely-held family corporation, the compensation is closely tied to the profitability of the company.

Personnel Plan

Year 1

Year 2

Year 3

Payroll

$2,000.00

$2,400.00

$3,000.00

Other

$0

$0

$0

Total People

5

5

5

Total Payroll

$2,000

$2,400

$3,000

Financial Plan

We will finance growth through the cash flow produced in the business. This strategy may force slow growth, however, establishing a stable and extensive network will take time and is the key to the success of the company.

Our sales based on a yearly contract with payment in advance would be the key to our cash flow and growth. We realize that we may have to be flexible in accepting less than one year of payment, but feel if we can get a minimum of three-month commitments from each employer, we will meet cash flow needs.

Projected Profit and Loss

Profit and Loss

ã€€Years

Year 1

Year 2

Year 3

Sales

$119,400.00

$179,700.00

$258,300.00

Direct Cost of Sales

$3,155.00

$4,512.5.00

$7,008.00

Other

$0

$0

$0

Total Cost of Sales

$3,155.00

$4,512.5.00

$7,008.00

Gross Margin

$116,245.00

$175,187.50

$251,292.00

Gross Margin %

97.36%

97.49%

97.29%

Expenses

ã€€

ã€€

ã€€

Payroll

$2,000.00

$2,400.00

$3,000.00

Sales and Marketing and Other Expenses

$0

$0

$0

Depreciation

$0

$0

$0

Leased Equipment

$0

$0

$0

Utilities

$1,200.00

$1,200.00

$1,200.00

Internet service fees

$720.00

$720.00

$720.00

Rent

$0

$0

$0

Other

$0

$0

$0

Total Operating Expenses

$3,920.00

$4,320.00

$4,920.00

Profit Before Interest and Taxes

$112,325.00

$170,867.50

$246,372.00

Interest Expense

$0

$0

$0

Income Taxï¼ˆ17%ï¼‰

$19,095.25

$29,047.48

$41,883.24

Net Profit

$93,229.75

$141,820.02

$204,488.76

Net Profit/Sales

78.08%

78.92%

79.17%

7.4 Projected Cash Flow

Due to our fixed Web hosting costs and the owners being the only employees, our cash flow in the following table remains positive throughout the year. The improvement in the cash flow as the subsequent years progress will allow for the continual updating and maintenance of the site to keep it fresh and viable. The low fixed cost of adding pages (flat fee of approximately $130/page) should be covered by our positive cash flow, thus allowing continuing expansion as necessary.

Cash Flow

ã€€Years

Year 1

Year 2

Year 3

Cash Sales

$119,400.00

$179,700.00

$258,300.00

Subtotal Cash from Operations

$119,400.00

$179,700.00

$258,300.00

Additional Cash Received

$0

$0

$0

New Current Borrowing

$0

$0

$0

New Other Liabilities (interest-free)

$0

$0

$0

New Long-term Liabilities

$0

$0

$0

Sales of Other Current Assets

$0

$0

$0

Sales of Long-term Assets

$0

$0

$0

New Investment Received

$0

$0

$0

Subtotal Cash Received

$119,400.00

$179,700.00

$258,300.00

Expenditures

Expenditures from Operations

Years

Year 1

Year 2

Year 3

Compensation

$2,000.00

$2,400.00

$3,000.00

Bill Payments

$1,920.00

$1,920.00

$1,920.00

Subtotal Spent on Operations

$3,920.00

$4,320.00

$4,920.00

Additional Cash Spent

$0

$0

$0

Principal Repayment of Current Borrowing

$0

$0

$0

Other Liabilities Principal Repayment

$0

$0

$0

Long-term Liabilities Principal Repayment

$0

$0

$0

Purchase Other Current Assets

$0

$0

$0

Purchase Long-term Assets

$0

$0

$0

Dividends

$0

$0

$0

Income Taxï¼ˆ17%ï¼‰

$19,095.25

$29,047.48

$41,883.24

Subtotal Cash Spent

$23,015.25

$33,367.48

$46,803.24

Net Cash Flow

$96,384.75

$146,332.52

$211,496.76

Initial Balance

$0.00

$93,229.75

$235,049.77

Direct Cost

$3,155.00

$4,512.50

$7,008.00

Cash Balance

$93,229.75

$235,049.77

$439,538.53

7.5 Projected Balance Sheet (noted: This chart I have finished, all data from my calculation)

The balance sheet in the following table shows a small but continued growth of net worth in just three years, presenting a healthy financial picture. This growth in net worth will also be supplemented significantly with the possibility of Web page advertising and related links income that is not yet projected or contained in the figures.

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